Mitsubishi Board Reportedly Meeting on Deal

Mitsubishi Motors Corp., Japan’s fourth-biggest car maker, is holding a meeting with board members to discuss a medium-term business plan, but hasn’t said whether a potential sale of equity to DaimlerChrysler will be considered. Meanwhile, the Wall Street Journal reported in today’s editions that the two companies were close to a deal that would give DaimlerChrysler a 33.4% stake, allowing the German auto giant to have effective control of Mitsubishi. The Nihon Keizai newspaper reported, without citing sources, that Mitsubishi Motors is convening a special board meeting to win approval for DaimlerChrysler to take a stake in the company. The directors’ blessing would allow Mitsubishi Motors President Katsuhiko Kawasoe to handle final negotiations, the report said. A company spokesman said he didn’t know whether alliance with DaimlerChrysler, the world’s fifth-largest auto maker, would be discussed at the meeting.